A Seed Phrase Isn’t Self Custody, It’s A Liability.

For as long as bitcoin has existed, self-custody–the ability to transact with and hold your own wealth without the need for a third party intermediary like a bank or other financial institution–has been central to the offer. 

For some, self custody is a firmly-held belief in the right to “be your own bank.” For others, it’s a practical step taken to safeguard a valuable asset that can be–and has been–lost to exchange hacks, mismanagement, or FTX-style collapse. A bit like keeping a safe full of cash at home, if there’s a run on the “bank,” your coins are immune. 

And while the “how” of self custody has changed forms throughout bitcoin’s history,…

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